Today starting of market was
positive but it slumped down after the announcement of the Infosys results.
Sensex closed at 25,024; down 348 points & Nifty ended the trade at 7,459
down 108 points. The sensex is provisionally
closed above the psychological 25,000 mark after slipping below that mark for a
brief period. The Sensex and Nifty, both, hit 2-1/2-week low. . Today nifty
future started at 7565 made a high of 7638 and low of 7466 and closed at 7484
total 172 points was moved by nifty future. The
Nifty has broken the rising wedge pattern and has also retraced 78.6 per cent
of the same. Now, once it breaks 7,479 it will confirm its next five-wave
decline which has an equality target of 7,400. The negative divergence in the
momentum indicator clearly indicates that bears have the upper hand.